Team trims 2026 operating and cash flow guidance after Q3 revenue declines 2.0%

Team, Inc. cut its 2026 operating and cash flow guidance on November 12 after reporting third-quarter revenue of $220.4 million, down 2.0% from $225.0 million a year earlier. TradingView reported the results, which the company distributed through GlobeNewswire.

Team's Third-Quarter Results and Guidance Cut

Team is a specialty industrial services company that provides inspection, leak detection, repair and heat treatment to operators in refining, petrochemical, oil and gas, power and pipeline industries across more than 13 countries, according to akta.pro company records.

Adjusted EBITDA rose to $15.7 million from $14.5 million, and margin increased to 7.1% from 6.5%. The loss attributable to common shareholders widened to $14.2 million from $12.1 million, and loss per share rose to $3.10 from $2.68. Total debt stood at $319.1 million, up from $297.2 million at the end of 2025, as higher ABL borrowings lifted the figure; reported liquidity was $43.5 million at quarter-end.

Team attributed the guidance revision to deferred maintenance work and Middle East disruptions. Yahoo reported a third-quarter loss of $11.1 million, or $3.10 per share, with adjusted losses of $1.43 per share, and said the company expects full-year revenue between $870 million and $890 million.

Team's 2026 Guidance and Funding History

According to akta.pro company records, Team's full-year 2026 guidance had been $920 million to $945 million in revenue and $68 million to $73 million in Adjusted EBITDA, each representing approximately 16% growth at the midpoint versus 2025. The same records show a 2026-08 post-IPO secondary of $57 million led by Stellex Capital Management and a 2025-09 post-IPO equity of $75 million, also led by Stellex. Total funding on record is $629.4 million.

Team's Leadership Changes Before the Results

Team appointed Gary L. Hill as chief executive officer effective February 1, 2026, replacing Keith Tucker, according to akta.pro company records. Clinton Roeder joined as executive vice president and chief financial officer effective June 22, 2026, succeeding Nelson Haight, who retired after more than four years in the role, Investing.com reported. In its Q2 2026 call, Team reported a revenue decline of more than $20 million due to deferred projects caused by Middle East geopolitical tensions while reaffirming full-year guidance, with a warning that results may land in the lower half of the range, AInvest reported.

Team's Next Scheduled Event

Team released its third-quarter 2026 earnings on November 11, 2026, after the close of trading, and scheduled a conference call for November 12, 2026, at 8:00 a.m. Central Time to discuss financial and operational results, Stock Titan reported.